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 Post subject: July 26th Tuesday Trade Results - Profit $2687.50
PostPosted: Wed Jul 27, 2016 4:07 am 
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Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
Location: Canada
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Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Trading (no technical indicators)
Phone: +1 708 572-4885
Free Chat Room: http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164
Archive Real-Time Chat Logs (timestamp, entries/exits, position size): http://www.thestrategylab.com/ftchat/forum/viewforum.php?f=20
Accolades (Testimonials): http://www.thestrategylab.com/Accolades.htm
Business Hours: 8am - 5pm est (Mon - Fri)
wrbanalysis@gmail.com (24/7)
http://stocktwits.com/wrbtrader (24/7)
http://twitter.com/wrbtrader (24/7)

Disclaimer: My trading performance is not an indication of my future performance nor the future performance for any trader that decides to learn/apply WRB Analysis.

Attachment:
072616-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+2687.50.png
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click on the above image to view today's performance verification

Price Action Trade Performance for Today: Emini TF ($TF_F) futures @ $0.00 dollars or +0.00 points, Emini ES ($ES_F) futures @ $2687.50 dollars or +53.75 points, Light Crude Oil CL ($CL_F) futures @ $0.00 dollars or +0.00 points, Gold GC ($GC_F) futures @ $0.00 dollars or +0.00 points and EuroFX 6E ($6E_F) futures @ $0.00 dollars or +0.0000 ticks. Total Profit @ $2687.50 dollars

Russell 2000 Emini TF Futures: 1 tick or 0.10 = $10.00 dollars and there's more contract information @ The ICE
S&P 500 Emini ES Futures: 1 tick or 0.25 = $12.50 dollars and there's more contract information @ CMEGroup
Light Crude Oil CL (WTI) Futures: 1 tick or 0.01 = $10.00 dollars and there's more contract information @ CMEGroup
Gold GC Futures: 1 tick or 0.10 = $10.00 dollars and there's more contract information @ CMEGroup
EuroFX 6E Futures: 1 tick or 0.0001 = $12.50 dollars and there's more contract information @ CMEGroup

Today's Trade Log: All of my live trades are posted real-time in the timestamp ##TheStrategyLab free chat room. The live trade is posted 3.2 seconds on average after the trade confirmation via an auto script to minimize delays in posting of my trades. You can read today's price action trade journal about my trades (e.g. time, price entry, contract size, price exit, market analysis) as the trade traversed to its completion. In addition, sometimes I'll post real-time trading tips in the free ##TheStrategyLab chat room involving WRBs, WRB Hidden GAPs, Key Market Events (KME), Tutorial Chapters 2 & 3, WRB Zones, Reaction Highs/Lows, Contracting Volatility or Expanding Volatility. Its all archived @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=158&t=2418

The free chat room is not a signal calling trading room. I do not mentor (never have) although I get many requests to do mentoring. There is education but only in members private threads at the forum involving members asking questions (help) about their own trading. Thus, the primary purpose of the free chat room is for you to use as your trade journal so that you can use as valuable feedback and for members to help each other...as in more eyes on the market. Also, you can use the free chat room to ask real-time WRB Analysis questions. Yet, please do not post your brokerage statements in the free chat room. Instead, its highly recommended that you only post your brokerage statements in your private thread for security reasons. The free chat room is on IRC via users request because the IRC servers are located in many different countries, software in many different languages and many different types of social media software can be used to log in. I'm the moderator of the free chat room. Thus, I keep the peace between members and I keep out the trouble makers so that members can peacefully post their observations about the markets, trades and WRB Analysis commentary.

Quote:
All of my real-time posted trades involves price action concepts from the WRB Analysis free study guide, Advance WRB Analysis Tutorial Chapters 4 - 12 and the Volatility Trading Report (VTR) trade signal strategies. Analysis -----> Trade Signals

Also, posted below are direct links to information about my price action trade methodology and trading plan (there's a difference between the two) that enables me to identify key trading areas in the price action that represent changes in supply/demand and volatility along with being able to exploit these changes via WRB Analysis (wide range body/bar analysis). I'm primarily a day trader because it suits my personal lifestyle but I do occasionally swing trade and position trade. Simply, my trade method is applicable for position trading, swing trading and day trading.

Image ##TheStrategyLab Chat Room is free. Members and I use the chat room to post WRB Analysis commentary, real-time trades and to post anything else related to trading. The chat room helps me tremendously in my own trading because I use it to document (journal) general volatility analysis involving WRB Analysis so that I can easily review at a later date my thoughts as I interacted with the markets...info I can not get from my broker statements. Also, this is not a signal calling chat room where a head trader tells you when to buy or sell and I do not have the time/energy/resources to manage a signal calling trading room. Access instructions for chat room @ http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164

Image Price Action Analysis via Advance WRB Analysis Tutorial Chapters @ http://www.thestrategylab.com/WRBAnalysisTutorials.htm and there's a free study guide of the WRB Analysis Tutorial Chapters 1, 2 and 3 @ http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=119&t=718

Analysis -----> Trade Signals

Image Trade Signal Strategies via Volatility Trading Report (VTR) @ http://www.thestrategylab.com/VolatilityTrading.htm and there's a free trade signal strategy @ http://www.thestrategylab.com/tsl/forum/viewforum.php?f=89 so that you can freely test drive one of our price action trade strategies with support (answering your questions) prior to purchasing the Volatility Trading Report (VTR). All WRB Analysis Tutorial Chapters 1 - 12 are included in the purchase of the Volatility Trading Report (VTR).

Image Daily Trading Plan Routine @ http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=296&t=3207 contains brief information about trading plan, market context, brokers, trading time frames, position size management and other discussions.

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Market Context Summaries

The below summaries by Bloomberg, Briefing, Reuters and Yahoo! Finance helps me to do a quick review of the fundamentals, FED/ECB/BOE/IMF actions or any important global economic events (e.g. Eurozone, MarketWatch.com) that had an impact on today's price action in many trading instruments I monitor during the trading day. Simply, I'm a strong believer that key market events causes key changes in supply/demand and volatility resulting in trade opportunities (swing points and strong continuation price actions) that reach profit targets. Thus, I pay attention to these key market events, intermarket analysis (e.g. Forex EurUsd, EuroFX 6E futures, Gold GC futures, Light Crude Oil (WTI) CL & Brent Oil futures, Eurex DAX futures, Euronext FTSE100 futures, Emini ES futures, Emini TF futures, Treasury ZB futures and U.S. Dollar Index futures) while using WRB Analysis from one trade to the next trade to give me the market context for price action trading before the appearance of my technical analysis trade signals. Therefore, I maintain these archives to allow me to understand what was happening on any given trading day in the past involving key market events to help better understand my trade decisions (day trading, swing trading, position trading)...something I can not get from my broker PnL statements alone. Further, most financial websites remove (delete) their archives after a few years to make room for new content. Therefore, I maintain my own archives of the news content so that I have it available for me when financial websites no longer archives their content.

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click on the above image to view today's price action of key markets


4:15 pm: [BRIEFING.COM] The stock market ended the Tuesday affair on a flat note as investors eyed an influx of quarterly reports and upcoming policy statements from the Federal Reserve and Bank of Japan. The major indices recovered from an early pullback, responding to a modest rebound in crude oil and sector leadership from heavily-weighted technology (+0.4%) and industrials (+0.7%). The Nasdaq Composite (+0.2%) finished ahead of the S&P 500 (UNCH) and the Dow Jones Industrial Average (-0.1%).

The major averages began the day on a modestly higher note, mirroring an early rebound in crude oil. The positive move in oil helped lift the broader market as the major indices notched early highs alongside the energy component. However, the rebound in oil proved to be short-lived as investors remained cautious ahead of inventory data from the American Petroleum Institute and the Department of Energy. The energy component pulled back mid-morning, bringing the broader market along with it.

The benchmark index inched off its low throughout the session as investors set their sights on the remainder of a busy macroeconomic week. Five sectors finished in the green as materials (+0.7%) and industrials (+0.7%) topped the leaderboard. The remaining gainers finished with upticks between 0.2% (financials) and 0.4% (technology). Conversely, defensively-oriented telecom services (-1.5%), utilities (-0.9%), consumer staples (-0.8%), and health care (-0.2%) rounded out the board. For its part, WTI crude ended its pit session lower by 0.5% ($42.91/bbl; -$0.22).

The heavily-weighted industrial sector (+0.7%) helped lead the broader market as United Technologies (UTX 107.89, +3.24) and Caterpillar (CAT 82.75, +4.06) outperformed. United Technologies jumped 3.1% after beating analysts' estimates for the quarter and raising its full-year earnings estimates. On the flipside, 3M (MMM 177.66, -1.97) underperformed after reporting a mixed quarter and lowering its local currency sales growth estimates. Separately, airlines outperformed alongside positive quarterly results from JetBlue Airways (JBLU 18.67, +1.39).

The high-beta chipmakers outperformed in the technology space (+0.4%), evidenced by the 3.8% gain in the PHLX Semiconductor Index. The index jumped alongside Linear Technology (LLTC 62.49, +14.02) after speculation mounted that Analog Devices (ADI 62.87, +2.34) was interested in the company. Additionally, Texas Instruments (TXN 71.42, +5.20) outperformed after reporting positive quarterly results. In the broader space, Apple (AAPL 96.67, -0.67) lagged ahead of this evening's earnings release.

In the consumer discretionary space (-0.2%), Dow component McDonald's (MCD 121.71, -5.69) finished at the bottom of the price-weighted index. The stock was under pressure as investors weighed a bottom-line beat against slower than expected second-quarter comparable store sales growth. Conversely, retail names outperformed as the sub-group traded higher in sympathy with Nordstrom (JWN 43.93, +1.19). The stock was upgraded to "Overweight" from "Neutral"at Piper Jaffray.

Biotechnology finished behind the broader health care (-0.2%) sector as the sub-group moved lower in sympathy with Gilead Sciences (GILD 81.05, -7.50). The drug maker fell 8.5% after lowering its full-year sales guidance. In the broader sector, Anthem (ANTM 137.59, -2.39) underperformed ahead of tomorrow morning's earnings report. Conversely, medical equipment names displayed relative strength as the group moved higher following positive earnings results from Baxter (BAX 48.01, +1.91) and Waters (WAT 155.09, +6.65).

The U.S. Dollar Index (97.14, -0.15) settled modestly lower as the pound, euro, and yen each gained against the greenback. Sterling ticked higher by 0.1% against the dollar (1.3134) while the single currency gained 0.1% against the buck (1.0988). Separately, the dollar fell 1.1% against the yen (104.63) amid jitters leading into Friday's policy decision from the Bank of Japan.

Treasuries settled higher as yields slipped throughout the complex. The yield on the 10-yr note finished lower by one basis point at 1.56%.

Today's trading volume was below the recent average as fewer than 803 million shares changed hands on the NYSE floor.

Today's economic data included the Case-Shiller 20-city Index for May, Consumer Confidence for July, and New Home Sales for June:

The Case-Shiller 20-city Home Price Index for May fell to 5.2%, which was below the Briefing.com consensus of 5.4%. This followed the previous month's unrevised reading of 5.4%.
The Conference Board's Consumer Confidence Index dipped to 97.3 in July from a downwardly revised 97.4 (from 98.0) in June.
The Briefing.com consensus estimate for July was 96.0, so this report was better than expected.
The slight change can be attributed entirely to the Expectations Index, which fell from 84.6 in June to 83.3 in July as consumers softened their stance somewhat on the outlook for business and labor market conditions.
Conversely, the Present Situations Index rose from 116.6 to 118.3.
Confidence levels contribute to the outlook for consumer spending, but ultimately, spending activity rests predominately on income trends.
New home sales in June were at a seasonally adjusted rate of 592,000, up 3.5% from the revised May rate of 572,000 (from 551,000).
The June number was well ahead of the Briefing.com consensus estimate of 560,000 and 25.4% above the same period a year ago.
The strong year-over-year growth reflects a robust improvement in the context of the current economic environment.
Still, there is a long way to go to get back to the peak rate of 1.389 million seen in July 2005 and, for that matter, the seasonally adjusted annual rate of 891,000 seen in January 2007 (i.e. pre-Great Recession).
The gain in June was paced by a 10.9% increase in the West region and a 10.4% increase in the Midwest.
The Northeast and the South saw sales declines of 5.6% and 0.3%, respectively.
Notably, there was a large sales pickup in homes priced between $400,000 and $499,999, which accounted for 18% of sales versus 10% in May.
The percentage of home sold at all other price points were either flat, or down, from the prior month..
Altogether, homes priced under $300,000 accounted for 48% of homes sold (vs. 53% in May) while homes priced over $300,000 accounted for 52% of homes sold (vs. 48% in May).
The median sales price was $306,700, up 6.1% year-over-year
At the current sales pace, the inventory of new homes for sale is at a 4.9-months supply versus 5.1 months in May

Tomorrow's economic data will include the weekly MBA Mortgage Index, which will be released at 7:00 ET. Durable Orders for June (Briefing.com consensus -1.0%) and Pending Home Sales for June (Briefing.com consensus +1.1%) will be released at 8:30 ET and 10:00 ET, respectively. The day's data will be capped off with the FOMC's July rate decision, which will cross the wires at 14:00 ET.

Russell 2000 +7.1% YTD
S&P 500 +6.1% YTD
Dow Jones +6.0% YTD
Nasdaq Composite +2.1% YTD

3:30 pm: [BRIEFING.COM]

The dollar index is down -0.2% around the 97.12 level
Commodities, as measured by the Bloomberg Commodity Index, are down -0.2% at the 83.72 level
Crude oil slides to fresh 3-month lows for the second day in a row, ahead of the API data
September crude oil futures fell $0.22 (-0.5%) to $42.91/barrel
API data will be released at 4:30 pm ET today
EIA crude oil data will be released tomorrow at 10:30 am ET
Monthly IEA data will be released Aug 11
Natural gas reverses off its afternoon highs around $2.72/MMBtu to close near the midpoint of session lows
September natural gas closed $0.03 lower (-1.1%) at $2.68/MMBtu
In precious metals, gold reverses off its morning lows and turns positive in the afternoon as the dollar weakens
August gold ended today's session up $1.30 (+0.1%) to $1320.80/oz
Silver sees an afternoon of consolidation after a brief morning spike, closing modestly higher for the day
September silver closed today's session $0.03 higher (+0.2%) at $19.68/oz
Base metal copper inches higher in afternoon pit trading
September copper closed $0.01 higher (+0.5%) at $2.23/lb

3:00 pm:

[BRIEFING.COM] As the stock market enters its final hour of trade, the Dow Jones Industrial Average (-0.3%) trades behind the S&P 500 (-0.1%) and the Nasdaq Composite (+0.2%).

Five sectors trade in the red as defensively-oriented telecom services (-1.6%), utilities (-1.0%), and consumer staples (-0.8%) round out the leaderboard. Conversely, materials (+0.7%), industrials (+0.5%), and technology (+0.3%) outperform.

The PHLX Semiconductor Index (+3.8%) has jumped in recent action, responding to speculation that Linear Technology (LLTC 62.49, +14.02) may be a takeout target. The stock has jumped 28.9% after reports indicated that Analog Devices (ADI 62.87, +2.34) could be interested in the name. In the broader technology space (+0.3%), software names demonstrate relative weakness as Salesforce.com (CRM 81.74, -0.45) and Oracle (ORCL 40.88, -0.28) sport losses of 0.6% and 0.7%, respectively.

The Treasury complex trades on a slightly higher note as the yield on the 10-yr note slips two basis points to 1.56%. Separately, WTI crude ended its pit session lower by 0.5% ($42.91/bbl; -$0.22).

2:25 pm:

[BRIEFING.COM] The major averages have ticked higher as the Dow Jones Industrial Average (-0.3%) trails the S&P 500 (-0.1%).

Tobacco names demonstrate relative weakness in the consumer staples (-0.8%) sector as the sub-group trades lower in sympathy with Reynolds American (RAI 50.16, -2.15). The company reported disappointing quarterly results, but also announced a new $2 billion share repurchase program. The tobacco name also received authorization from its board to increase its net dividend payout to 80.0% of adjusted net income. Separately, Anheuser-Busch InBev (BUD 126.61, +0.65) trades higher by 0.5% after revising its offer for SAB Miller (SBMRY 57.67, -0.62) to GBP45 per share from GBP44 per share. The news followed Aberdeen Asset Management backing a proposal to reappraise the planned merger.

On the commodities front, WTI crude trades lower by 0.7% ($42.84/bbl; -$0.29) ahead of its pit session close at 14:30 ET. Investors will receive the latest weekly stockpile data from the American Petroleum Institute after today's close at 16:35 ET while the Department of Energy's more influential stockpile data will cross the wires at 10:30 ET tomorrow.

1:55 pm:

[BRIEFING.COM] The major averages have inched higher in recent action as the Dow Jones Industrial Average (-0.3%) trades behind the S&P 500 (-0.2%). Separately, the tech-heavy Nasdaq Composite (UNCH) flirts with its flat line.

The economically-sensitive financial sector (-0.1%) trades narrowly beneath its flat line as rate-sensitive real estate investment trusts (REITs) underperform. The sub-group is trading lower along with defensively-oriented sectors ahead of tomorrow's policy statement from the FOMC. However, the fed funds futures market currently estimates the implied probability of a rate hike at tomorrow's meeting as a meager 4.8%. Separately, T. Rowe Price (TROW 70.91, -2.78) trades lower by 3.8% after topping analysts' estimates. However, the company did report that its top line declined by 2.6% year-over-year.

On the M&A front, E*TRADE (ETFC 25.23, +0.24) trades higher by 1.0% after announcing that it would acquire Aperture New Holdings for $725 million in cash. Aperture is the holding company for OptionHouse, which currently handles $3.6 billion in customer assets. The transaction is expected to close in the fourth quarter of this year.

Gold ended its pit session higher by 0.1% ($1,320.80/ozt; +$1.30). For the month, the precious metal has ticked higher by 0.1%.

1:35 pm:

[BRIEFING.COM] The major U.S. indices have pushed back lower in recent trade as selling pressure enters the market in afternoon trading.

A look inside the Dow Jones Industrial Average shows that McDonald's (MCD 121.54, -5.86), Verizon (VZ 54.76, -1.11), and 3M (MMM 176.26, -3.37) are all underperforming following earnings reports issued this morning. While beating earnings expectations, McDonald's reported in-line revenue results and worse than expected Q2 global comparable sales. Verizon delivered a mixed Q2 report and reiterated that it expects 2016 earnings to be in-line with those from 2015. Lastly, in reporting its Q2 results, 3M reduced 2016 revenue and earnings projections.

Conversely Caterpillar (CAT 81.75, +3.06) is the best-performing Dow component following this morning's Q2 report. The company delivered better than expected top and bottom-line results, but cautioned that it expected its 2016 results to be near the bottom end of its prior projections.

Amid today's pullback, the DJIA is currently down 0.85% this week.

1:15 pm:

[BRIEFING.COM] The stock market trades on a flat note at midday as investors favor a cautious approach ahead of key earnings reports and policy statements from the Federal Reserve and Bank of Japan. Additional factors impacting today's trade include a leg lower in crude oil and weakness from the heavily-weighted consumer discretionary (-0.2%) and health care (-0.3%) sectors. At midday, the Dow Jones Industrial Average (-0.2%) trades behind the S&P 500 (-0.1%) and the Nasdaq Composite (+0.1%).

Equity futures signaled a flat start as investors responded to a gaggle of earnings reports and fading expectations of easing measures from the Bank of Japan. Six Dow components reported quarterly results ahead of the open with 3M (MMM 176.73, -2.90) and United Technologies (UTX 107.50, +2.85) beating expectations. Separately, Japan's Nikkei (-1.4%) underperformed as commentary from Japanese officials lowered expectations regarding immediate stimulus measures. However, reports indicated that the government continues to consider a JPY6 trillion fiscal stimulus package.

Indices ticked higher at the start of the session as crude oil trimmed a larger loss. The energy component tumbled to the $42.40/bbl price level overnight, rebounding to $43.00/bbl shortly before the open. The major averages notched session highs in the first half-hour of trade before pulling back alongside another downturn in crude oil. Currently, WTI crude trades lower by 0.7% ($42.81/bbl; -$0.32). The major averages carved out session lows mid-morning when the heavily-weighted technology sector (+0.3%) briefly dipped beneath its flat line.

Equities have ticked off their worst levels of the day as the benchmark index attempts to maintain footing near its flat line. Five sectors trade in the green as materials (+0.7%), industrials (+0.4%), and technology (+0.3%) lead the pack. Conversely, countercyclical telecom services (-1.3%), utilities (-0.9%), consumer staples (-0.5%), and health care (-0.3%) round out the leaderboard.

The industrial sector (+0.5%) displays relative strength as quarterly results from the likes of United Technologies (UTX 107.50, +2.85) and Caterpillar (CAT 81.95, +3.26) boost their respective sub-groups. United Technologies has gained 2.7% after reporting above-consensus quarterly results. The aerospace name also boosted its earnings estimates for the year. Separately, Caterpillar trades higher by 4.2% as positive quarterly results outweigh cautious guidance.

In the influential technology sector (+0.3%), Apple (AAPL 97.23,- 0.11) trades on a flat note ahead of this evening's earnings release. Separately, the high-beta chipmakers demonstrate relative strength, evidenced by the 1.7% gain in the PHLX Semiconductor Index. The group outperforms as it trades higher in sympathy with Texas Instruments (TXN 70.92, +4.70). Conversely, Facebook (FB 121.06,- 0.56) and Alphabet (GOOG 737.30, -2.47) show respective losses of 0.5% and 0.3%. The two will release earnings after the closing bell on Wednesday and Thursday, respectively.

The heavyweight health care sector (-0.3%) displays relative weakness as biotechnology underperforms. The iShares Nasdaq Biotechnology ETF (IBB 280.27, -1.98) trades lower by 0.7% as quarterly results from Gilead Sciences (GILD 80.52, -8.03) weigh on the sub-group. Gilead Sciences beat bottom-line estimates for the quarter, but lowered its full-year sales guidance below consensus. Additionally, the stock was downgraded to "Hold" from "Buy" at Needham. Conversely, medical equipment name Baxter (BAX 47.59, +1.49) outperforms after topping bottom-line estimates for the quarter.

In the consumer discretionary space (-0.2%), Dow component McDonald's (MCD 121.80, -5.60) underperforms after reporting that global second-quarter comparable store sales grew by 3.1%, which was below expectations.

The U.S. Dollar Index (97.20, -0.09) trades narrowly beneath its flat line as the pound, euro, and yen each sport gains against the buck. The pound/dollar pair trades higher by 0.1% (1.3133) while the single currency has gained 0.1% against the greenback (1.0985). Separately, the dollar has tumbled 0.9% against the yen (104.85).

Treasuries trade on a flat note as the yield on the 10-yr not sits unchanged at 1.58%.

Today's economic data included the Case-Shiller 20-city Index for May, Consumer Confidence for July, and New Home Sales for June:

The Case-Shiller 20-city Home Price Index for May fell to 5.2%, which was below the Briefing.com consensus of 5.4%. This followed the previous month's unrevised reading of 5.4%.
The Conference Board's Consumer Confidence Index dipped to 97.3 in July from a downwardly revised 97.4 (from 98.0) in June.
The Briefing.com consensus estimate for July was 96.0, so this report was better than expected.
The slight change can be attributed entirely to the Expectations Index, which fell from 84.6 in June to 83.3 in July as consumers softened their stance somewhat on the outlook for business and labor market conditions.
Conversely, the Present Situations Index rose from 116.6 to 118.3.
Confidence levels contribute to the outlook for consumer spending, but ultimately, spending activity rests predominately on income trends.
New home sales in June were at a seasonally adjusted rate of 592,000, up 3.5% from the revised May rate of 572,000 (from 551,000).
The June number was well ahead of the Briefing.com consensus estimate of 560,000 and 25.4% above the same period a year ago.
The strong year-over-year growth reflects a robust improvement in the context of the current economic environment.
Still, there is a long way to go to get back to the peak rate of 1.389 million seen in July 2005 and, for that matter, the seasonally adjusted annual rate of 891,000 seen in January 2007 (i.e. pre-Great Recession).
The gain in June was paced by a 10.9% increase in the West region and a 10.4% increase in the Midwest.
The Northeast and the South saw sales declines of 5.6% and 0.3%, respectively.
Notably, there was a large sales pickup in homes priced between $400,000 and $499,999, which accounted for 18% of sales versus 10% in May.
The percentage of home sold at all other price points were either flat, or down, from the prior month..
Altogether, homes priced under $300,000 accounted for 48% of homes sold (vs. 53% in May) while homes priced over $300,000 accounted for 52% of homes sold (vs. 48% in May).
The median sales price was $306,700, up 6.1% year-over-year
At the current sales pace, the inventory of new homes for sale is at a 4.9-months supply versus 5.1 months in May

12:30 pm:

[BRIEFING.COM] The major averages have ticked higher since our last update as the Dow Jones Industrial Average (-0.2%) trails the S&P 500 (UNCH). The benchmark index floats eight points off its session low.

The consumer discretionary space (-0.1%) trades narrowly behind the broader market as restaurant names weigh. Dow component McDonald's (MCD 121.76, -5.63) rounds out the price-weighted index after reporting that global second quarter comparable store sales grew by 3.1%, which was below expectations. However, the restaurant chain operator did beat bottom-line estimates for the quarter. Elsewhere, retailers have extended their recent winning streak after Nordstrom (JWN 44.65, +1.91) was upgraded to "Overweight" from "Neutral" at Piper Jaffray. Conversely, Under Armour (UA 41.90, -1.69) trades lower by 4.0% as participants weigh a mixed quarter against growing operating income.

In the media sub-group, Netflix (91.66, +4.00) has rallied 4.6% after insider buying sparked buying interest in the name. Netflix Director Hoag disclosed the purchase of 600,000 shares, totaling roughly $51.9 million. Netflix is down 7.2% since reporting earnings on July 18.

12:00 pm:

[BRIEFING.COM] The major indices continue to move off their session lows as the Dow Jones Industrial Average (-0.3%) trails the S&P 500 (-0.1%) and the Nasdaq Composite (+0.1%).

The countercyclical health care sector (-0.2%) displays relative weakness as biotechnology underperforms. Gilead Sciences (GILD 31.39, -7.16) drags on the sub-group as investors respond to lowered sales guidance. The stock was downgraded to "Hold" from "Buy" at Needham following the results. The firm cited slower growth expectations for the downgrade. Conversely, medical equipment names outperform after Baxter (BAX 47.28, +1.18) and Waters (WAT 155.21, +6.77) each topped bottom-line estimates for their respective quarters. The broader sector has gained 4.2% this month, outperforming the benchmark index (-0.1%; month-to-date: +3.2%) over that period.

The U.S. Dollar Index (97.20, -0.09) trades narrowly beneath its flat line as the pound, euro, and yen each sport gains against the buck. The pound/dollar pair trades higher by 0.1% (1.3133) while the single currency has gained 0.1% against the greenback (1.0983). Separately, the dollar has tumbled 1.0% against the yen (104.75).

11:30 am:

[BRIEFING.COM] The S&P 500 (-0.2%) has inched off its session low, trading three points above its worst level of the day. Elsewhere, the domestically-facing Russell 2000 (UNCH) trades ahead of the broader market.

The influential technology sector (+0.1%) has returned above its flat line even though top-weighted Apple (AAPL 97.01, -0.32) lags. The stock trades lower by 0.3% ahead of this evening's quarterly report. Elsewhere, fellow large caps underperform as Facebook (FB 121.28, -0.35) and Alphabet (GOOG 754.26, -3.25) sport respective losses of 0.3% and 0.4%. The two will release earnings after the closing bell on Wednesday and Thursday, respectively. Conversely, Fidelity National Info (FIS 80.24, +2.34) has rallied 3.0% after beating top- and bottom-line estimates for the quarter and raising its full-year earnings outlook.

The high-beta chipmakers outperform, evidenced by the 1.4% gain in the PHLX Semiconductor Index. The group continues to trade higher in sympathy with Texas Instruments (TXN 70.10, +3.88) as investors respond to positive quarterly results and guidance. The broader price-weighted index has gained 9.3% in July, compared to a gain of 6.1% in the technology sector.

11:00 am:

[BRIEFING.COM] The stock market has pulled back in recent action as the Dow Jones Industrial Average (-0.4%) remains behind the S&P 500 (-0.2%). The move lower in the broader market corresponded to a similar move in crude oil, which trades lower by 1.0% ($42.71/bbl; -$0.42).

The commodity-sensitive energy sector (-0.5%) trades behind the benchmark index as oilfield service names and independent oil and gas companies underperform. In the group, Schlumberger (SLB 79.32, -1.39) has declined by 1.7%. The equipment servicer has ticked lower by 0.9% since reporting a bottom-line beat after last Thursday's close. This compares to a decline of 1.8% in the Energy Sector SPDR ETF (XLE 66.87, -0.09) over that same period. Conversely, refiners outperform as Valero Energy (VLO 51.37, +1.08) gains 2.1%. The company beat top- and bottom-line estimates for the quarter and reported that demand for refined products remained strong in the second quarter.

Treasuries trade on a flat note as the yield on the 10-yr not sits unchanged at 1.58%.

10:30 am: [BRIEFING.COM]

The dollar index is down -0.1% around the 97.14 level
Commodities, as measured by the Bloomberg Commodity Index, -0.3% at the 83.70 level
Crude oil futures hit fresh 3-month lows in morning trade, extending last session's losses ahead of API data
August crude oil futures are down $0.37 (-0.8%) to $42.75/barrel
EIA petroleum data is scheduled to be released tomorrow at 10:30 am ET
API data will be released today at 4:30 pm ET
Crude oil futures have fallen 12% so far in the month of July
Monthly IEA data will be released on Thursday, Aug 11
Natural gas extends last session's losses ahead of Thursday's EIA natural gas data
August natural gas futures are down $0.03 (-1.1%) to $2.68/MMBtu
In precious metals, gold trades near parity with the close of the previous session as the dollar index trades flat
August gold futures are up $0.70 (+0.1%) at $1320.20/oz
Silver moves in tandem with gold this morning, trading sideways after a modest bump
September silver futures are up $0.03 (+0.2%) at $19.68/oz
Base metal copper inches higher in morning pit trading
September copper futures are up $0.01 (+0.3%) at $2.22/lb

10:00 am:

[BRIEFING.COM] The stock market has ticked higher in recent action as the Nasdaq Composite (+0.4%) leads the S&P 500 (+0.1%) and the Dow Jones Industrial Average (UNCH). The benchmark index trades four points off its session low.

Six sectors trade in positive territory as materials (+0.3%), industrials (+0.3%), and technology (+0.6%) lead the remaining sectors. Conversely, utilities (-0.2%), health care (-0.2%), energy (-0.3%), and telecom services (-0.7%) sport the only losses.

Just released, the Consumer Confidence reading for July came in at 97.3 while economists polled by Briefing.com expected the survey to hit 96.0. This followed the prior month's revised reading of 97.4 (from 98.0).

Separately, New Home Sales in June hit an annualized rate of 592,000, which was above the revised May rate of 572,000 (from 551,000), and more than the 560,000 that was expected by the Briefing.com consensus.

9:45 am:

[BRIEFING.COM] The stock market began its day on a flat note as the S&P 500 (+0.1%) and the Nasdaq Composite (+0.1%) trade ahead of the Dow Jones Industrial Average (UNCH).

Six sectors trade in the green with technology (+0.4%) and industrials (+0.4%) leading to the upside. The remaining gainers sport upticks between 0.1% (consumer staples) and 0.3% (materials). On the flipside, health care (-0.3%) and telecom services (-0.5%) sport the largest losses.

The PHLX Semiconductor Index (+1.5%) demonstrates relative strength as the group trades higher in sympathy with Texas Instruments (TXN 70.28, +4.06). The company beat analysts' estimates for the quarter and received several upgrades following the positive quarter.

Biotechnology demonstrates relative weakness as the iShares Nasdaq Biotechnology ETF (IBB 280.63, -1.63) declines 0.6%. The sub-group is trading lower in sympathy with Gilead Sciences (GILD 83.00, -5.55). The company beat bottom-line estimates for the quarter, but lowered its sales guidance for the full year.

On the commodities front, WTI crude trades lower by 0.1% ($43.10/bbl; -$0.03) while gold trades flat at $1,319.20/ozt.

9:20 am: [BRIEFING.COM] S&P futures vs fair value: -0.70. Nasdaq futures vs fair value: +0.90.

The stock market is on track for a flat open as the S&P 500 futures trade one point below fair value.

Index futures trade on a mixed note as investors examine the latest battery of U.S. earnings releases and developments out of Japan. Earnings reports continue to roll in on a mixed note as cautious guidance from Dow component Caterpillar (CAT 77.81 -0.88) overshadows an otherwise positive quarter. Fellow industrial name 3M (MMM 177.60, -2.03) is also under pressure this morning after lowering its revenue outlook for the year. However, the conglomerate did top analysts' bottom-line estimates and issue largely in-line earnings guidance.

Global bourses trade on a mixed note as a reduced likelihood of stimulus measures from Japan weighs on sentiment. Japan's Finance Minister Taro Aso said the Bank of Japan will be allowed to make its own decision regarding potential stimulus measures. However, overnight reports indicated that the Japanese government is mulling a JPY6 trillion fiscal stimulus package.

On the corporate front, United Technologies (UTX 106.50, +1.85) trades higher by 1.8% after beating top- and bottom-line expectations for the quarter. The industrial name raised its earnings estimates for the year, projecting earnings between $6.45 and $6.60 for the year. Starbucks (SBUX 58.73, +0.78) has gained 1.4% after being added to the Conviction Buy List at Goldman. Separately, DuPont (DD 69.50, +0.62) trades higher by 0.9% after surpassing analysts' estimates for the quarter and raising the low end of its full-year earnings guidance.

Today's economic data will be capped off with Consumer Confidence for July (Briefing.com consensus 96.0) and New Home Sales for June (Briefing.com consensus 560k), which will both be released at 10:00 ET.

9:00 am: [BRIEFING.COM] S&P futures vs fair value: -1.20. Nasdaq futures vs fair value: +0.10.

The S&P 500 futures trade one point below fair value.

Just released, the Case-Shiller 20-city Home Price Index for May fell to 5.2%, which was below the Briefing.com consensus of 5.4%. This followed the previous month's unrevised reading of 5.4%.

8:55 am: [BRIEFING.COM] S&P futures vs fair value: -1.00. Nasdaq futures vs fair value: +1.30.

The S&P 500 futures trade one point below fair value.

Equity indices across the Asia-Pacific region ended Tuesday on a mixed note with Japan's Nikkei (-1.4%) showing relative weakness. The retreat in Japanese equities was accompanied by yen strength that sent the dollar/yen pair to 104.00. The currency pair has inched up to 104.35, which leaves the yen up 1.4% against the dollar. The yen strength began building after Japan's Finance Minister Taro Aso said the Bank of Japan will be allowed to make its own decision on stimulus.

In economic data:
Japan's Corporate Services Price Index 0.2% year-over-year (consensus 0.1%; last 0.2%)
Hong Kong's trade deficit HKD45.60 billion (last deficit of HKD26.20 billion)
South Korea's Q2 GDP +0.7% quarter-over-quarter, as expected (last 0.5%); +3.2% year-over-year (consensus 2.9%; last 2.8%)
New Zealand's June trade deficit narrowed to NZD3.31 billion from NZD3.63 billion (expected deficit of NZD3.30 billion)
Singapore's June Industrial Production -2.5% month-over-month, as expected (last -0.4%); -0.3% year-over-year (consensus -0.2%; last 0.8%)

---Equity Markets---

Japan's Nikkei lost 1.4% with nine sectors ending in the red. Materials (-2.4%), financials (-2.2%), and energy (-2.1%) lagged while communications (+0.2%) outperformed. Toshiba sank 9.2% while TDK, Alps Electric, Nitto Denko, Olympus, Kyocera, Yokohama Rubber, and Sony Financial Holdings lost between 3.8% and 5.4%.
Hong Kong's Hang Seng added 0.6% with casino names leading the advance. Galaxy Entertainment and Sands China gained 6.5% and 5.8%, respectively, after Sheldon Adelson made upbeat comments about regional industry trends. Financials like China Life Insurance, Bank of East Asia, Ping An Insurance, Hang Seng Bank, and Bank of China added between 0.9% and 1.5%.
China's Shanghai Composite advanced 1.1%. China Animal Husbandry Industry, SAIC Motor, Shandong Gold-Mining, and Tangshan Sanyou Chemical added between 6.6% and 7.8%.

Major European indices are mixed with Italy's MIB (-0.3%) struggling to keep pace with other markets. The overall investor sentiment was dampened after comments from Japanese officials downplayed the immediate need for stimulus. Financials have shown relative weakness in Europe while other stocks have had a better showing.

Economic data was limited:
UK's BBA Mortgage Approvals 40,100 (expected 40,200; last 41,800)
Spain's PPI -4.7% year-over-year (last -5.6%)

---Equity Markets---

Germany's DAX has added 0.4% with Volkswagen, Daimler, and BMW up between 0.9% and 2.2%. Financials have faced some selling pressure with Deutsche Bank falling 3.0% and Commerzbank sliding 5.0%.
UK's FTSE is higher by 0.3% with select miners among the leaders. Fresnillo, Randgold Resources, Rio Tinto, and BHP Billiton are up between 1.5% and 4.7%. On the downside, consumer names Tesco and Sainsbury are down 3.9% and 2.2%, respectively, while homebuilders Barratt Developments and Taylor Wimpey hold respective losses of 2.0% and 1.7%.
France's CAC has ticked higher by 0.1%. Exporters Valeo, Michelin, Peugeot, and Renault show gains between 1.1% and 2.6% while financials lag. Societe Generale, AXA, and Credit Agricole show losses between 0.5% and 1.2%.
Italy's MIB has given up 0.3% with Mediaset falling 9.8%. Financials like Unicredit, Mediobanca, Banca Pop Emilia Romagna, UBI Banca, and Banco Popolare are down between 1.3% and 3.1%.

8:30 am: [BRIEFING.COM] S&P futures vs fair value: -0.20. Nasdaq futures vs fair value: +2.90.

Equity futures have inched higher in recent action as the S&P 500 futures trade within one point of fair value.

In company specific news, Eli Lilly (LLY 82.87, +0.89) has gained 1.1% after beating analysts' estimates for the quarter and reaffirming its full-year guidance. The company reported that its top-line grew 8.6% year-over-year to $5.4 billion. McDonald's (MCD 123.00, -4.40) trades lower by 3.5% after global comparable sales missed estimates. However, the company did beat bottom-line estimates for the quarter. Finally, Verizon (VZ 55.30, -0.57) has ticked lower by 1.0% after reporting a mixed quarter. The Dow component beat bottom-line estimates, but reported that revenue fell 5.3% year-over-year.

The U.S. Dollar Index (97.08, -0.20) trades modestly lower as the greenback loses ground to the yen. The dollar/yen pair trades lower by 1.4% (104.32) as investors respond to a reduced likelihood of stimulus measures from Japan. Separately, the dollar has gained 0.1% against the commodity-sensitive Canadian dollar (1.3235) amid a sustained downturn in crude oil. WTI crude trades lower by 1.4% ($42.54/bbl, -$0.59).

8:10 am: [BRIEFING.COM] S&P futures vs fair value: -1.70. Nasdaq futures vs fair value: +0.90.

U.S. equity futures hover near their flat lines as the S&P 500 futures trade two points below fair value. Index futures tread water as investors examine a plethora of earnings results and developments in Japan. Six Dow components are scheduled to release quarterly reports this morning as positive bottom-line results from the likes of 3M Company (MMM 177.73, -1.89), Caterpillar (CAT 77.75, -0.94), DuPont (DD 69.75, +0.87), and United Technologies (UTX 105.47, +0.82) prompt mixed reactions.

In Japan, the Nikkei (-1.4%) underperformed as investors weighed potential stimulus measures ahead of the Bank of Japan's policy meeting later in the week. Additionally, reports indicated that the Japanese government would launch a JPY6 billion stimulus plan, but that it could be spread out through an unspecified number of years.

Treasuries trade on a higher note as yields fall throughout the complex. The yield on the 10-yr note has slipped two basis points to 1.56%.

On the economic front, data will include the 9:00 ET release of the Case-Shiller 20-city Index for May (Briefing.com consensus 5.4%). Separately, Consumer Confidence for July (Briefing.com consensus 96.0) and New Home Sales for June (Briefing.com consensus 560k) will both cross the wires at 10:00 ET.

In U.S. corporate news of note:

Texas Instruments (TXN 70.85, +4.63): +7.0% after the company beat analysts' estimates for the quarter and issued in-line guidance for Q3
Under Armour (UA 43.90, +0.31): +0.7% following the company missing bottom-line estimates on in-line revenue
Gilead Sciences (GILD 84.60, -3.95): -4.5% after reporting a bottom-line beat, but lowering FY16 sales guidance
3M Company (MMM 177.73, -1.89): -1.1% following the company lowering its revenue outlook and reporting a mixed quarter

Reviewing overnight developments:

Asia-Pacific markets ended on a mixed note as Japan's Nikkei (-1.4%) underperformed Hong Kong's Hang Seng (+0.6%) and China's Shanghai Composite (+1.1%).
In economic data:
Japan's Corporate Services Price Index 0.2% year-over-year (consensus 0.1%; last 0.2%)
Hong Kong's trade deficit HKD45.60 billion (last deficit of HKD26.20 billion)
South Korea's Q2 GDP +0.7% quarter-over-quarter, as expected (last 0.5%); +3.2% year-over-year (consensus 2.9%; last 2.8%)
New Zealand's June trade deficit narrowed to NZD3.31 billion from NZD3.63 billion (expected deficit of NZD3.30 billion)
Singapore's June Industrial Production -2.5% month-over-month, as expected (last -0.4%); -0.3% year-over-year (consensus -0.2%; last 0.8%)
In news:
The retreat in Japanese equities was accompanied by yen strength.
Yen strength began building after Japan's Finance Minister Taro Aso said the Bank of Japan will be allowed to make its own decision on stimulus.
The currency pair has inched up to 104.30, which leaves the yen up 1.4% against the dollar.

European indices trade mixed as Germany's DAX (+0.3%) leads the U.K.'s FTSE (+0.2%) and France's CAC (-0.1%). Elsewhere, Italy's MIB (-0.7%) underperforms.
Economic data was limited:
UK's BBA Mortgage Approvals 40,100 (expected 40,200; last 41,800)
Spain's PPI -4.7% year-over-year (last -5.6%)
In news:
Investor sentiment was dampened after comments from Japanese officials downplayed the immediate need for stimulus.

5:57 am: [BRIEFING.COM] S&P futures vs fair value: -3.50. Nasdaq futures vs fair value: -8.10.

5:57 am: [BRIEFING.COM] Nikkei...16383...-237.30...-1.40%. Hang Seng...22130...+136.30...+0.60%.

5:57 am: [BRIEFING.COM] FTSE...6725.78...+15.70...+0.20%. DAX...10205.77...+7.50...+0.10%.

Special thanks to Bloomberg, Briefing, Reuters and Yahoo! Finance for their market summaries. gm

Best Regards,
M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Image@ http://twitter.com/wrbtrader Image@ http://stocktwits.com/wrbtrader

http://www.thestrategylab.com
Phone: +1 708 572-4885
Business Hours: 8am - 5pm est (Mon - Fri)
Skype Messenger: kebec2002
wrbanalysis@gmail.com


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